Native Capital: Financial Institutions and Economic Development in São Paulo, Brazil, 1850-1920
This book studies the development of banks and stock and bond exchanges in São Paulo, Brazil, during an era of rapid economic diversification. It assesses the contribution of these financial institutions to that diversification, and argues that they played an important role in São Paulo's urbanization and industrialization by the start of the twentieth century. It finds that government regulatory policy was important in limiting and shaping the activities of these institutions, but that pro-development policies did not always have their intended effects. This is the first book on São Paulo's famous industrialization to identify the strong relationship between financial institutions and São Paulo's economic modernization at the turn of the century. It is unique in Brazilian economic history, but contributes to a body of literature on financial systems and economic change in other parts of the world.
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Table 6.9 TABLE 6.10 TABLE 6.11 TABLE 6.12 TABLE 6.13 TABLE 6.14 TABLE 6.15 TABLE 6.16 TABLE A.1 TABLE A.2 TABLE A.3 TABLE A.4 TABLEA.5 TABLE A.6 TABLE A.7 NOTES ON CONVENTIONS CURRENCY The Brazilian currency during the time.
CURRENCY The Brazilian currency during the time of this study was the milréis, and was written as 1$000. It ranged in value between US$.20 and US$.50. All U.S. dollar figures in the text reflect the exchange rate for the given year.
Sonia Moss of the interlibrary borrowing division at Stanford University's Green Library procured important Brazilian legal documents for me, and Noel Maurer generously provided me with data on the Mexico City stock exchange.
I became a Brazilian historian because of the late Warren Dean, who wrote a book that made me want to write one like it. His mentoring and friendship were invaluable; his passion for Brazilian history will always serve as a model for me ...
Brazilians are portrayed, even by other Brazilians, as a sun-worshiping, workaverse population ruled by patronage and reciprocal obligation rather than the economic relations of the market. São Paulo is the recipient of masses of the ...